STRONG COMPETITION

Manawatu Standard, Volume LVI, Issue 44, 21 January 1936, Page 5

STRONG COMPETITION

SYDNEY WOOL SALE?

SYDNEY, Jan. 20. At the wool sales 12,960 bules were offered, 11.638 being sold lit auction, also 1905 privately.

. There was strong general competition and the market Was firm for all description, other than good spinners’ wools, for whicl tho demand was somewhat irregular and the extrome prices offering at early auctions last week were not always forthcoming, Greasy Merino made 26d. Last week’s average prices were £l9 Is 4d a bale ant. 15,8 d a lb.

SYDNEY WOOL AVERAGES.

Average prices obtained in tho Sydney col market so far this season are a sun

A SOUND POSITION.

REVIEW OF MARKET

Winehcombe, Carson, Ltd., report Die wool market has excellent prospects 'or the three months’ selling ahead which vill conclude the busy selling period n Australia. After the March senes Minions will ho limited to tho final cataegues ill June. When the sales opened :n September good cause for optimum xiutcil hut no person could then alitici;ato ifiat tho demand would he tjp consistently maintained with a remarkable absence of any decided variation in_ values Japan particularly (also Yorkshire) has been the strongest factor in competition, nit the Continent, despite much reduced Italian buying, has proved a rinichstrengthened influence compared with last season. The revival in French orders has icon decidedly welcome. Shipments of .vool from Australia to Franco in 19e2-3. .otallcd 435.505 bales, hut last season they ,verc only 276,000 bales. Competition from that quarter i’s needed this season because a larger proportion of the Australian eh] is shorter in length, finer in quality, an< some of it shows more vegetable fault aim dust than usual. The improvement ,m turnover at the French mills hits been nostly for internal trade. Slight# largei exports of tops have been made, hut foreign sales of yarns and fabrics have continued to decrease. The expansion in Francos home business has been due to . increased employment,, more stable government, and the measures it has taken to employ men m national works. Some improvement has also been recorded in French tourist traffic, which is usually a decided contributor to the country's revenue. In addition, the fall in wholesale prices in hranee which persisted for some years lias been arrested, ihe level of them being about 2 per cent, higher last October than in July. . . , . It wool had been rising while otnei commodities were stationary feelings of uncertainty regarding their maintenance would bo'felt, but during the past months world 111-ices generally have been advancing, the long-needed upward movement in tins world wheat values being the most generally cheering development. Tho process of reducing the world’s surplus stockof ra\. materials and goods is gradually restoring confidence. Cheap money has encouraged enterprise, trade has increased appreciably, and unless some unexpected development occurs that expansion appears likely to continue. The improvement in the wool market is therefore justified for general reasons, and in tho ease of Merinos has the special support of the strong_ selling situation in regard to supplies. When the fact is considered that in 1932-33 3.000.075 hales were sold on Australian markets and the quantities available tills season will be ever 300.000 bales less, that reduction alone is sufficient to cause an appreciable advance in rates from tho depressed figures of that year.

er: — Week ended. Per ba! 0. Per lb 1935. £ s. cl. cl. September 7 16 18 1 12.9 September 14 .... 17 0 7 13.0 Soptember 23 .... 15 4 8 11.7 October b ..... 15 3 3 'SI.9 October 12 15 14 6 12.3 October 19 16 5 10 13.0 November 2 15 19 4 12.7 November 9 16 19 9 13.7 November ' 16 17 12 8 14.2 November 23 18 7 7 14.7 November 30 17 15 6 14.8 Docember 14 17 12 3 14.5 December 21 17 14 7 14.6 1936. January 11 18 5 6 15.1